Solar
outdoor LED lights refer to the type of lights which are powered by
photovoltaic panels. The photovoltaic panels charge a rechargeable battery,
which provide sufficient power to outdoor LED lights. It is rapidly increasing
its popularity, as more and more homeowners seek cost effective and
environmental friendly ways to illuminate their outdoor living spaces and
gardens. Solar LED lights are durable and reliable surviving extremes of
temperature, weather and UV rays.
Market Size and Forecast
The global solar outdoor LED lights
market is expected to grow at a robust pace over the forecast period i.e.
2017-2024. The
growth of the outdoor LED lighting market
is driven by the increasing demand for energy-efficient lighting systems across
the globe and development of infrastructure such as smart cities that led to
the implementation of solar outdoor LED lighting systems.
Asia-Pacific
holds the largest market share in terms of revenue in solar outdoor LED
lighting globally. Led by China and India, the market in this region is
expected to showcase significant growth owing to favorable government policies
in order to utilize renewable power sources and rising environmental concerns.
North
America solar outdoor LED lights
market is expected to show a tremendous growth over the forecast
period owing to early adoption of solar LED lighting across the region. It has
been notified that top manufacturers such as Osram and GE have started to
emphasize more on their solar outdoor LED lighting products. Europe stood at
third position in this market. U.K and Germany are the leading revenue
contributors in solar outdoor LED lights market in Europe. The Africa and
Middle East countries furnish maximum potential for expansion in this market.
Solar outdoor LED market in these regions is particularly driven by initiatives
such as awareness campaigns, subsidies and many programs aimed to boost the
adoption for solar LED outdoor lighting.
Market Segmentation
Our
in-depth analysis segmented the solar outdoor LED lights market in the
following segments:
By
Application
Residential
Commercial
Others
By Power
Less than
50W
Between
50W and 150W
More than
150W
By Region
Global
solar outdoor LED lights market is further classified on the basis of region as
follows:
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea &Rest
of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
Middle East
and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
The
factors propelling the growth of solar outdoor LED lights market are the
lighting systems based on Internet of Things (IoT), reduction in the prices of
LEDs and penetration of LEDs as a light source in outdoor lighting applications
such as architectural, highways & roadways and public places.
Rapid pace
of urbanization coupled with government initiatives for the adoption of solar
LED lighting as they are eco-friendly and cost-efficient are the major factors
driving the growth of outdoor LED lights.
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Increase
in per capita income and rise in purchasing power of the consumers are
anticipated to be the dynamic factors behind the rapid growth of solar LED
lighting market.
However,
the growth of solar outdoor LED lights market may be hampered by the higher initial
installing cost of solar LED light. Snow, dust and moisture can accumulate on
horizontal panels, further which will lead to reduction of energy production
and the product might not work properly.
Key players
The major
key players for solar outdoor LED lights market are as follows
Philips
Company
Overview
Key
Product Offerings
Business
Strategy
SWOT
Analysis
Financials
Hubbell
outdoor
Blooma
aurora
Ligman
Okawa
Screw manufacturing
Gamasonic
Carmanah
Cree
lightning
Solas Ray
UM Green
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
solar outdoor LED lights market is segmented as follows:
By
Application Market Size & Y-O-Y Growth Analysis
By Power
Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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